Florida Community Capital Corporation
- Assets
- $0.0
- Revenue
- $2.5k
- Investments
- $0.0
- Employees
- 0
- Location
- New Smyrna Beach, FL
- Founding
- 04/1999
- Data as of
- 09/2021
- EIN
- 59-3563085
Organization Overview
Florida Community Capital Corporation is located in New Smyrna Beach, FL. The organization was established in 1999. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. Florida Community Capital Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2021, Florida Community Capital Corporation generated $2.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (47.5%) each year. All expenses for the organization totaled $2.1m during the year ending 09/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE FLEXIBLE SOURCES OF CAPITAL TO TARGETED POPULATIONS AND DISTRESSED MARKETS IN FLORIDA FOR A VARIETY OF PURPOSES INCLUDING THE PROVISION OF AFFORDABLE HOUSING AND ECONOMIC DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE AFFORDABLE HOUSING, COMMUNITY AND ECONOMIC DEVELOPMENT FOR THE BENEFIT OF LOW TO MODERATE INCOME INDIVIDUALS LIVING IN ECONOMICALLY DISTRESSED AREAS, THROUGH THE ADMINISTRATION OF PUBLIC & PRIVATE FUNDS AND REAL ESTATE DEVELOPMENT PROJECTS.
THE ORGANIZATION FORGAVE LOANS IN THE AMOUNT OF 685,929 THAT WERE OWED FROM TAX EXEMPT ORGANIZATIONS WHOSE MAIN PURPOSE IS TO PROVIDE AFFORDABLE HOUSING AND PROMOTE ECONOMIC DEVELOPMENT TO LOW INCOME INDIVIDUALS LIVING IN ECONOMICALLY DISTRESSED AREAS. THREE OF THE ORGANIZATIONS WERE 501(C) (3) ORGANIZATIONS AND THE OTHER ORGANIZATION IS A 501(C)(1) TAX EXEMPT GOVERNMENT INSTRAMENTALITY ORGANIZATION. THE LOANS WERE FORGIVEN IN ORDER TO ASSIST THOSE ORGANIZATIONS BY FREEING UP SOME OF THEIR CAPITAL SO THAT THEY WILL BE ABLE TO PROVIDE MORE FUNDS TO THE COMMUNITIES IN THE DISTRESSED ECONOMIC AREAS THAT THEY SERVE.
DISTRIBUTED 1,258,092 TO FLORIDA COMMUNITY PARTNERS TO ASSIST THEM IN THEIR MISSION TO PROVIDE SUPPORT TO LOCAL CHARITABLE ORGANIZATIONS WHICH ARE IN DIRE NEED OF FUNDING DUE TO THE COVID EPIDEMIC. OF THE AMOUNT DISTRIBUTED ABOVE, 800,000 HAS BEEN DISTRIBUTED BY FLORIDA COMMUNITY PARTNERS TO LOCAL 501(C)(3) CHARITIES AND AN ADDITIONAL AMOUNT WILL BE DISTRIBUTED PRIOR TO SEPTEMBER 30, 2021 TO OTHER LOCAL TAX EXEMPT ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Doug Krenzer Board Chairm | Trustee | $0 | |
Nancy Merolla Director | Trustee | $0 | |
John Nicholas Executive Di | OfficerTrustee | $0 | |
Craig Ridinger Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,162 |
| Investment income | $1,320 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,482 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,944,021 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $115,500 |
| Fees for services: Legal | $2,760 |
| Fees for services: Accounting | $15,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,897 |
| Information technology | $1,922 |
| Royalties | $0 |
| Occupancy | $4,649 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,683 |
| All other expenses | $0 |
| Total functional expenses | $2,074,687 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $0 |
Grants Awarded
Over the last fiscal year, Florida Community Capital Corporation has awarded $1,944,021 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
ONIC-HIDDEN COVE INC PURPOSE: AFFORDABLE HOUSING | $122,349 |
HOUSING AND NEIGHBORHOOD DEV SERV PURPOSE: AFFORDABLE HOUSING | $5,947 |
GRAND AVENUE ECONOMIC COMMUNITY DEV PURPOSE: AFFORDABLE HOUSING | $276,514 |
WINTER PARK HOUSING AUTHORITY PURPOSE: AFFORDABLE HOUSING | $125,155 |
WINTER PARK HOUSNG AUTHORITY PURPOSE: AFFORABLE HOUSING | $155,964 |
FLORIDA COMMUNITY PARTNERS INC PURPOSE: DISTRIBUTE TO 501(C) | $1,258,092 |